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Policy measures to stabilize growth include:1. Increase the supply and implementation of policies to stabilize growth.
2. Focus on key industries and regions to stabilize the fundamentals of industrial growth.
Third, the full implementation of the "14th Five-Year Plan" series of inspections to boost effective investment in the manufacturing industry.
Fourth, actively expand consumption and lead the creation of new demand with high-quality supply.
The meaning of steady growth:In the era of the new normal economy, China's economy has begun to shift from speed to quality, and pursue more stable development. It can also be seen from the spirit of the "13th Five-Year Plan" and the first economic work conference that China needs to develop around the keyword of "stable growth" in the future.
To stabilize growth is to persist in expanding domestic demand and stabilizing external demand, vigorously develop the real economy, strive to overcome the impact of various unstable and uncertain factors, promptly solve the problem of the tendency of the emerging state to lose the mountain and increase the number of acres, and maintain the stable operation of the economy.
It also indicates a sustained and stable growth trend, and is mostly used to describe the state of economic development. On September 14, 2015, the National Development and Reform Commission held a meeting to deploy 10 measures to promote steady growth of investment.
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In order to enhance the pertinence, flexibility and effectiveness of macroeconomic regulation and control, the first economic work conference proposed that the basic orientation of China's macroeconomic policy in 2011 should be active, prudent and flexible, and the implementation of a positive fiscal policy and a prudent monetary policy.
"Positive" means to continue to develop the economy. In the face of a severe employment problem, it is necessary to maintain a certain rate of economic growth, so it is necessary to be "active". "Steady" means to control inflation.
Inflationary pressures are high, and to prevent the economy from overheating, it must be "robust". It can be seen that the basic orientation and specific policies of macroeconomic policies correspond to each other, reflecting the thoughtful and comprehensive consideration of the first country.
As far as fiscal policy is concerned, since November 2008, China has implemented a proactive fiscal policy for more than two years, which has made important contributions to coping with the impact of the international financial crisis and stabilizing the economy. In 2011, the fiscal expenditure will give more prominence to improving people's livelihood and structural adjustment, and more funds will be used for social construction such as "three rural", science and technology, education, and culture, and for improving the social security system. Next year, in order to implement a proactive fiscal policy, it is possible to continue to implement structural tax cuts.
For example, in order to stimulate domestic demand, it is necessary to increase residents' income, so that in the arrangement of structural tax cuts, more attention may be paid to the adjustment of the income distribution gap among members of society, and through a series of arrangements with an overall tax reduction tendency, the purpose of reducing taxes and increasing income of low-income groups will be realized.
In terms of monetary policy, the word "prudent" has a long meaning. On the premise of ensuring the smooth operation of the economy, the prudent monetary policy is mainly to resolve the dilemma faced by China's monetary policy and the exchange rate policy. On the one hand, it is necessary to have a huge amount of monetary liquidity and control prices; On the other hand, it is necessary to block the inflow of international hot money.
However, the former is difficult due to factors such as the greater pressure on commercial banks' credit supply, the strong inertia of credit delivery, the increase in the scale of foreign exchange appropriation, and the high historical stock. The latter is difficult to control due to the possibility of a third round of quantitative easing in the United States and the deepening debt crisis in Europe. The uncontrollable nature of the latter could well be offset by all our efforts to liquidate our ** liquidity by the massive inflow of international hot money. Therefore, it cannot be ruled out that at an appropriate time in 2011, the monetary policy will move from "prudent" to "tight" again.
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Reduced reserve requirements, reduced taxes, and increased investments.
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1. China's macroeconomic situation**After experiencing the economic cycle from 1991 to 2001, China's economy re-entered the expansion stage of the current economic cycle from 2002 onwards, and basically ended the deflationary inertia since 1997 in 2003. In early 2004, China's economy continued the trend of 2003——— with strong expansion, and the scale of fixed asset investment and monetary credit grew too rapidly.
2. In 2005, China's economy developed steadily in the direction expected of strengthening macroeconomic regulation and control, and continued to show a good trend of high economic growth and low inflation. In 2006 and even during the "Eleventh Five-Year Plan" period, China's macroeconomic management should maintain the continuity and stability of its neutral policy orientation, under the guidance of the ultimate policy goal of demand management of the highest sustainable growth rate (HSGR), establish a policy target system that is consistent with the dynamic adjustment of wages and exchange rates, and achieve sustained and rapid growth of the national economy through the active operation of prudent fiscal policy and monetary policy, with domestic investment demand as the axis.
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The 2006-2008 period was a period of moderate contraction, and the period of 2008-2009 was a period of moderate macroeconomic easing.
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